We used different data for thrift holding companies. For bank holding companies, the table includes data from Consolidated Financial Statements for Bank Holding Companies (FR Y-9C) filed with the Federal Reserve.
Since thrift holding companies don't file a uniform set of numbers at the holding company level, we used thrift financial report data for the companies' main subsidiaries:
- For People's United Financial (PBCT), the data is for People's United Bank of Bridgeport, Conn, although People's United holds several other thrifts, which are much smaller.
- For Hudson City Bancorp, we used data for Hudson City Savings Bank.
- For TFS Financial Corp (TFSL), the data is for Third Federal Savings and Loan of Cleveland, Ohio.
- For Capitol Federal Financial, the data is for Capitol Federal Savings Bank of Topeka, Kan.
Northern TrustNorthern Trust (NTRS) had the lowest Texas ratio on the list, coming in at 1.76%. Its strong standing is reflected in its share price and price-to-book ratio, as both are fairly expensive. Northern Trust's numbers reflect its primary role as a private bank, with loans comprising only 37% of total assets as of Dec. 31. Nonperforming assets comprised just 0.15% of total assets -- the best overall asset quality ratio on the list. Still, the company's price-to-book ratio of 2.48 looks quite high in the current environment, and its $1.6 billion infusion of TARP money illustrates the headline risk associated with taking the government's money, especially for a company whose business model requires it to "wine and dine" wealthy clients. Following the media's indignation over its continued sponsorship of the Northern Trust Open golf tournament in Los Angeles, the company said Friday it would repay the Treasury all of the TARP money as soon as possible.
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